Garanti Bank has posted 30% growth on the lending segment sincethe beginning of the year, thus reaching a volume of 460m euros, asthe pace at which it attracted new customers hit 10,000 permonth.
Garanti Bank, the domestic subsidiary of one of the biggest Turkishfinancial groups, but with a still low presence in Romania,upwardly revised its plan for 2009, after having reached settargets as early as July amid the low competition on the lendingsegment.
"For the lending segment, we had planned 25% growth, but we revisedit to 40%. We carried out lending campaigns all year long and wewere among the first to cut interest rates. In spring, we were theonly ones promoting loans, but now competition is starting to pickup", says Murat Atay, who in early 2009 took the reins of theRomanian subsidiary of Garanti group.
The bank's loan portfolio climbed from 350m euros in December to460m euros at present, a 31% increase.
"Financing banks receive from their foreign shareholders hasdwindled. But our group has access to cash from Turkey and we wereable to support our growth here," Atay states.
Lending growth was mainly sustained by the retail segment.
"We've come to attract around 10,000 new clients each month, mostas individuals or small and medium-sized firms. We're receivingmany applications from clients to refinance their debts with otherbanks, but we're analysing them very carefully," Atay says.
He states the management of the Turkish group started takingmeasures as early as the beginning of 2008 to protect itself fromthe crisis, so that its liquidity is now comfortable, and theweight of bad loans very low. Still, he chose not to specify theweight of bad loans domestically.
The bank's client portfolio has reached 120,000, from 40,000 inDecember 2008. The rising number of clients has also brought adeposit doubling, to 200m euros.
Turnover growth was also supported by the opening of five newbranches this year, with their total number reaching 50. Anotherbranch will become operational by yearend.
" (...) We maintain our plan of making profit in less than twoyears," Atay says.
Garanti is about to receive a banking licence from the NBR, tooperate as a domestic bank, but this will not bring changes in itsdevelopment strategy, Murat Atay says.
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